So just because it's a loan on a rental property doesn't necessarily mean the interest will be deductible. 

Quote from @Melissa Stanley: This is a tough one.

And the owner is very responsive to questions or issues (emailed him at night and received a reply within a few hours).  

@Sean Spagnola, a few thoughts:1.

It is a very safe play.

If you're unwilling to charge a common fee, I wonder how you're going to handle a problematic tenant who is late on rent or responsible for paying the plumber to remove a kid's underwear from a clogged toilet.How will you conduct a credit/criminal screening without an electronic application?

@Jay Fayz Do you have a source of regular income? 

That's a tricky one.

My buddy is looking to get rid of a 2/1 in Hillsboro because he is St.

I have a building on the outskirts of San Antonio, but it is considered San Antonio as far as a physical address.